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Info Edge (Naukri) defers its plan to raise Rs 500 crore

Info Edge India (Naukri.com) has decided to defer raising $125 million for investments. In December 2007, the company had taken an approval from its board to raise fresh capital upto an aggregate amount of Rs 500 crore by different alternatives available.

Info Edge India (Naukri.com) has decided to defer raising $125 million for investments. In December 2007, the company had taken an approval from its board to raise fresh capital upto an aggregate amount of Rs 500 crore by different alternatives available.

Sanjeev Bikhchandani, CEO, Info Edge India, has said, “Given the volatility in the market, we decided to postpone the requirement. Essentially, that money was being raised for potential future acquisitions. Now we have decided to first identify the acquisition and raise the money should we need it.” [Source: ContentSutra]

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